If you are a honest manager in a PSU and you feel for the company and for the country, you better have good writing skills! That is the only way you can vent your feelings for Mr. Praful Patel, Mr. Murali Deora,…etc.

these gentlemen have singularly tried (and somewhat succeeded) in killing Air India (Indian Airlines), Ongc, etc.

if you are wondering how…read on

of course Ayn Rand and fans had predicted that the dishonest civil servant could be bought. But she also said that virtuous businessmen like Vijay Mallaya, Praful Patel, Naresh Goyal will not do any harm to the people, government, industry – IN THEIR OWN SELF INTEREST – LOL…read on…Ayn Rand ki Jai ho! Thank God i stopped reading her philosophy in college when I stopped reading Karl Marx!!


blogs should at least carry the truth, the press will not…..Praful Patel ki Jai ho.

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  1. I went through the link. Excellent analysis. I really wonder why we don’t hear these from main stream media. Since the popular media is also covering many corruption issues, I can only hope that they take a note of this.

  2. I have seen first hand IA duty managers announce technical fault on a Chennai Mumbai flight so that Jet could fill it up. 1 hour later mysteriously, IA starts flying again. Till the merger have stubbornly flown Indian Airlines and contrary to fashionable views have had very good experience. Even today they have the best engineers and maintenance procedures. The most imp thing in aviation is Safety, not pretty faces. Sadly, as mentioned in the article, Praful Patel and Pramod Mahajan have systematically killed IA. BSNL is already been prevented from ordering new equipment to benefit Bharti and Vodafone. Next with insurance company IPOs, the general insurance business is next in line. Already they have used the KPMGs and PwCs of the world to kill what little service was there.
    BTW 80% of the best leadership in private general insurers in the early days of privatisation were ex New India and not just because there was no other talent pool.

  3. you mischaracterize ayn rand.nobody lives by the virtue of the butcher or the baker -you live because of their self interest.ayn rand’s mistake was to use the word ‘selfishness’. she herself acknowledged later that it was because of her lack of felicity with the english language (she was an emigrant).
    mallya,goyal etc would not have been able to hurt their customer had it been a free market.because the people in govt play a large role in their lives than ordinary passengers, they are ofcouse sucked into the business-politics nexus.the solution is to kill the politics part of the nexus -because it adds no value to the market,is a dead weight and is immoral

  4. No Pravin it is not a language problem. Ayn Rand did not understand the difference between ‘Perpetual family owner capitalism’ vs. ‘Shareholder capitalism’. With shareholder cap the MD does what is good for the dominant shareholder. Even the regulator speaks the language of the dominant player – IRDA speaks LIC language!

    Nobody gets sucked into the nexus. Businessmen create it. Goyal needed it to keep Tatas out of the Singapore Airlines deal. Anil Ambani needs it – clearly the Ayn Rand case of the ‘non deserving heir’. However my friends who are working in Adag were not ‘sucked’ into a job there – they have gone with their eyes open. They have signed…now they are singing!

    the truth of the market is there are Somali pirates, Dawood, Osama, – and insurance companies who try to strike deals.

    Ayn Rand was not ready for shareholders raping their own companies! Self rape is tough is it not? Ministers do it.

  5. if shareholders dont see value in what the MD is doing -as he is supposed to be shilling for the promoter family,is there any reason the IPOs get sold out? and the secondary market has plenty of buyers?. i dont deny wrong doing,but seconday shareholders do have the right and choice to sell their shares.no such luck for taxpayers.
    gresham’s law comes to mind and also hayek and mises malinvestment ideas.when goyal can nudge out tata by currying favor witht the govt,he does it because it is in his self interest.that is why central planning not only is an economic failure,it is also a moral failure.it ensures people like goyal have a choice to be corrupt and even encourages it.
    ditto when the rbi or the US fed pumps money,even good companies have to load up and probably make bad investment decisions -because if they dont,their competitors will surely grab the free money.can anyone blame them? ofcourse not.the one to be blamed is the fellow handing out the free money ie our own sarkari babu or bearded saints at rbi/us fed/central bank of choice.

  6. Cant agree with you more on Ayn Rand, look at her devotee Alan Greenspan who screwed up the worlds financial system and cost countless jobs.

    To think that there are so many more devotees of hers in the corporate world – is there a way we can short the world?

  7. statspotting..that is an absolutely ignorant comment. it is like blaming vijay mallya’s antics on sri sri ravisankar’s philosophy just because he attened a few AOL meetings!

    greenspan of the 60s was a totally different animal from the 90s,2000s.if he were an ayn rand follower,he would have restored the gold standard,abolished the fed and stopped displaying hubris on the omniscience of the central bank.

    funny why people dont see the glaring irony: how could greenspan be a free market supporter AND be the head of a central bank

  8. and also btw, the biggest haters of greenspan are libertarian politicians like Ron Paul -a true free market lover.
    corporatiosn loving g’span -now that is like vedanta loving chidambaram -its cronyism and not a free market.
    the free market is not a wild chaotic world as many seem to be imagine.it is a regulated world: only the regulations are made bottom up and not top down by omniscient babus and regulators

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